Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1887-06-24
BUSINESS IN GOOD SHAPE.
Comptroller Trenholm's View of the CofTe,
and Wheat PanIcs.


and Wheat PanIcs.
WASHINGTON, June 23-Mr. Tren-
holm, Comptroller Of the Currency, refer
ring 10 the recent financial furry in the
West, says: "The business of the coun-
try is in good condition generally. A safe
and satisfactory business is being done,
and in the main it is conservative. There
seems to be nothing to cause apprehension
or to anticipate any great financial disar-
ransement."
SIS there not q somewhat dangerous
tendency TO speculation in real estate, Mr..
Comptroller"
"In a measure, yes, although do not
want to be understood as saying the banks
are not properly protecting themselves or
to cause any feeling of alarm"
"Do you think, then, that the banks
are tying themselves up in real estate
loans?'
'No, not at the present time"
Have the recent panics in the New York
coffee market and the Chicago grain mar
ket any real Significance"
"None at all. Now that the cliques
have broken, it is q good thing because
the money that has been locked up will
again come into active circulation, and
business which Is always injuriously af-
fected by manipulation will resume its
normal condition"
"Do you not regard il as dangerous
that Kershaw, Wiltshire and their partners
could get money enough from the banks
to carry $1,000, 900 bushels Of wheat?
Does il not show recklessness on the part
Of the banks or that they must have more
money than they know what TO do withf'
lone Of the proper functions Of hank,
one of its duties 10 the community, IN
TO advance money on proper security.
Whether these 10000 900 bushels were
held by one man, or 16 men, or 100 men,
makes no difference, provided the banks
security is all right. 1t is legitimate bus
iness for it TO advance money on grain. II,
however, this money has been given with
out security; if A indorsed BIS note and
got it discounted and B indorsed As, no
collaterais being deposited hut the indOrse-
ment alone being regarded as sufficient,
that il another matter. OF course ] am
giving no opinion in advance and have no
facts on which to base an opinion. have
no doubt the banks have been prudent, but
you will recognize that anything might
say on this subject is apt to be miscon-
strued I have no doubt that had been
in Cincinnati or Chicago last week In the
ordinary course Of business my mere pres
ence might have given rise TO rumors and
caused embarrassment"
''Do you notice any tightness in the
money marketgi
There appears to be ample money in
the country. The surrender Of the bank
circulation consequent upon the extin-
guishment Of the per cent. loan at the
end of the present month viii not be felt
because the Treasury viii make some very
large payments in July. The return to
low prices Of bieadstuffs, consequent upon
the failures OF the bull speculation, will
cause resumption Of exports and place
this country in a position to draw from
abroad any supplies Of gold necessary TO
bring the volume of the currency up 70 the
requirements Of the autumn. / can close
as / commenced, by saying that ! regard
the business of the country in good shape,
and with reasonable caution and prudenes
we may look ahead and see good times be
fore us u